Do the Building Society Association intend to launch a searchable register to to identify firms on the Earl Shilton BS conveyancing panel for example in Southampton?
We have not been informed any plans on the part of the BSA to develop such a tool.
I need some expedited conveyancing in Southampton as I am faced with pressure to complete in less than 3 weeks. Luckily I do not require a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
As you are not obtaining a mortgage you have the choice not to have searches carried out although no law firm would suggest that you don't. Drawing on our experience of conveyancing in Southampton the following are instances of what can be revealed and adversely affect future saleability: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Road Schemes,...
I purchased my home on 2 September and the transaction details are still not registered. Any reason for this? My conveyancing solicitor in Southampton expressed confidence that it will be concluded inside ten days. Are properties in Southampton particularly slow to register?
As far as conveyancing in Southampton registration is no faster or slower than anywhere else in the country. Rather than based on location, timescales can vary depending on the party submitting the application, whether there are errors and if the Land registry have to notify any other parties. As of today in the region of 80% of submission are fully addressed within 12 days but some can be subject to protracted hold-ups. Registration is effected after the purchaser has moved in to the property so registration formalities is not always an essential issue yet where it is urgent that the the registration takes place urgently then you or your lawyers can communicate with the Registry to express the reasoning for the application to be prioritised.
I am looking for a leasehold apartment up to £195,000 and identified one near me in Southampton I like with amenity areas and station in the vicinity, the downside is that it only has 52 years on the lease. I can't really find anything else in Southampton suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a home loan the remaining unexpired lease term will be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
Can you provide any advice for leasehold conveyancing in Southampton from the perspective of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Southampton can be bypassed if you instruct lawyers the minute you market your property and request that they start to put together the leasehold information needed by the purchasers’ lawyers. If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? Southampton leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord acquiescing to such changes. If you fail to have the approvals to hand you should not communicate with the landlord without contacting your conveyancer in advance. The majority of landlords or managing agents in Southampton levy fees for supplying management packs for a leasehold home. You or your lawyers should find out the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Southampton. If there is a history of any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unsettled. If you are supposed to have a share in the Management Company, you should make sure that you have the original share certificate. Arranging a replacement share certificate can be a time consuming formality and frustrates many a Southampton home move. Where a duplicate share certificate is necessary, you should approach the company officers or managing agents (if applicable) for this as soon as possible.
Southampton Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing
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Its a good idea to discover as much as possible about the company managing the block as they will either make living at the property much simpler or uncomfortable. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to practical matters like the cleanliness of the common parts. Enquire of prospective neighbours what they think of their service. Finally, be sure you discover the dates that the maintenance fees are due to the managing agents and precisely what you get for your money. Are there any major works in the planning that could increase the maintenance costs? Does the lease have more than 82 years unexpired?
My financial adviser has recommended their conveyancing practitioner for my conveyancing in Southampton - Surely it’s better to just use them?
It is not always the case and you are entitled to use whichever lawyer you decide for your Southampton conveyancing. A solicitor put forward by a 3rd party adviser may not always be the right lawyer, they may put forward their preferred conveyancing firm who are based far away. In this instance you may not have contact with your conveyancing practitioner and due to the lack of continuity in the transaction, it may be difficult to obtain progress reports.